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� � <br /> �s-.� 1tU0828 � <br /> ' I.ender's written agreement or applicable law. Borrower shall pay the amount of all mortgage insurance premiums in the <br /> � manner pfovided under paragraph 2 Ixceof. <br /> 3 Any amounts disburaed by Lendet pursuant to this paragraph 7, with intcnst thereon, shall become additional <br /> t indebtedness of Borrower secured by this Mortgage. Unless Borrower and Lender agrce to other terms of payment, such <br /> -'# amounts shall be payable upon notice from Lender to Borrower requesting payment thereoF, and shall bear interest from the ` <br /> date of disbursement at the rate payable from time to time on outstanding principal under the Note unless payment of 1 <br /> interest at auch rate would be contrary to applicable law, in which event such amounu shall bear interest at the highest rate � ;; <br /> permissible ,under applicable Iaw. Nothing contained in this paragraph 7 shall require Lender to incur any expeme or take <br /> any actioa hereuader. <br /> S. Inspectlon. Lender may make or cause to be made reasonable entries upon and inspections of the Property, provided <br /> � that Lender shall give Borrower notice prior to any such inspection specifying reasonable cause therefor related to Lender's <br /> � interest in the Property. <br /> f9. Coodemnallon. ?he proceeds of any award or claim for damages, direct or consequential, in connection with any ; ` <br /> `� condemnation or other taking of the Property, or part thereof, or for conveyance in lieu of condemnation, are hereby assigned <br /> and shall be paid to Lender. <br /> , � In the event of a total taking of the Properry. the proceeds shall be applied to the sums secured by this Mortgage. <br /> with the excess, if any. paid to Borrowec In the event of a partial taking of the Properry, unless Borrower and I.ender <br /> otherwise agru in wriLing, ihere sha]! be applied io the sums secured by this Mortgage soch proportion of the proceeds � <br /> 4 as is equal to that propoRion which the amount of the sums secured by this Mortgage immediately prior to the date of <br /> y� taking bears to the fair market value of the Property immediately prior to the date of taking, with the balance of the proceeds <br /> paid to Borrower. ' <br /> � if the Property is abandoned by Borcower, or if, after notice by Lender to Borcower that the condemnor offera to make i <br /> j an award or settle a claim for damages, Borrower fails to respond to Lender within 30 days after the date such notice is = <br /> i mailed. Lender is authoriud to collect and apply the proceeds, at Lender's option, either to restoration or repair of the � <br /> ;� Property or to the sums secured by this Mortgage. <br /> � Uniess Lender and Borrower otherwise agree in writing, any such application of proceeds to principal shall not extend <br /> � or postpone the due date of the monthly installments referred to in paragraphs t and 2 hereof or change the amount of <br /> such installments. <br /> 10. Borrower Not Relea4ed. Extension of the time for payment or modification of amortization of the sums secured <br /> by this Mortgage granted by Lender to any successor in interest of Borrower shall not operate to release, in any manner. <br /> the liabiliry of the originat Borrower and Borrower's successors in interest. Lender shall not be required to commence <br /> •, proceedings against such successor or refuse to extend time for payment or otherwise modify amortization of the sums <br /> secured by this Mortgage by reason of any demand made by the original Borrower and Borrowers successors in interest. . <br /> 11. Forbearance 6y I.ender Not a Waiver. Any forbearance by Lender in exercising any righ[ or remedy hereunder, or " <br /> 3 otherwise afforded by applicable law, shall not be a waiver of or predude the exercise of any such right or remedy. <br /> � The procurement of insurance or the payment of taxes or other liens or charges by Lender shall not be a waiver of Lender's <br /> right to accelerate the maturity of the indebtedness cecurcd by this Mortgage. <br /> 12. Remedtes CumulaHve. All remedies provided in this Mortgage are distinct and cumulative to any other right or <br /> rcmedy under this Mortgage or afforded by law or equity, and may be exercised concurrently, independendy or successively. <br /> ]3. Saccesso�s and Assigns Bound; Joint and Several I.ia6ility; CapHons. The covenants and agreements herein a <br /> contained shall bind, and ffie rights hereunder shall inure to, the respective successors and assigns of Lrnder and Borrower. <br /> subject to the provisions of paragraph 17 hereof. AII covenants and agmements of Borrower shalt be joint end severaL <br /> The captions and headings of the paragraphs of this Mortgage are for convenience only and are not to be used to <br /> interprot or deSne the provisions hereof. <br /> 14. Notice. Except for any notice required under applicable law to be given in another manner, (a) any notice to <br /> Borrower provided for in this Mortgage shall be given by mailing such notice by certified mait addressed to Borrower at <br /> the Property Address or at such other address as Borrower may designate by notice to Lender as provided herein, and <br /> (b) any notice to Lender shall be given by certified mail, remm receipt requested, to Lender's address stated herein or to <br /> such other eddress as Lender may designate by notice to Bormwer as provided herein. Any notice provided for in this <br /> Mortgage shall be deemed to have been given to Borrower or I.ender when given in the manner designated herein. <br /> IS. Uniform Mortgagr, Governing Law; Severabllity. This form of mortgage combines unifortn covenanu for national <br /> use and non-uniform covmants with limited variations by jurisdiction to constitute a uniform security instrvment covering <br /> x+eal property. This Mortgage shall be govemed by the law of the jurisdiction in which the Propeny is /ocated. In the <br /> event that any provision or clauu of this Mortgage or the Note conflicts with applicable law, such wnflic[ shall not aftect ' <br /> other provisions of this Mortgage or the Nore which can be given effect without the conflicting provision, and to this <br /> end the provisions of the Mortgage and the Note are declared to be severable. <br /> 16. Borrowe�s Copy. Borrower shall be furnished a conformed copy of the Note and of this Mortgage at the time <br /> of execution or a[ter recordation hereof_ <br /> 17. TransFer oE the Property; Assumption. If all or any part of the Property or an interest therein is sold or transfened <br /> by Borrower without I.ender's prio� written consent, excluding (a) the cmation of a lien or mwmbrance subordinate to <br /> this Mortgage, (b) the creation of a purchase money security interest for household apptiances, (c) a transfer by devise. <br /> descent or by operation of law upon the death of a joint tenant or (d) the grant of any teasehold interest of three years or ]ess <br /> , not containing an option to purchase, Lender may, at Lender's op[ion, declare all the sums secured by this Mortgage to be <br /> immediately due and payable. Lender shall have waived such option to accelerate if, prior to the sale or transfer. Lmder <br /> and the person to whom the Property is to be sold or transferred reach agreement in writing that the credit of such person <br /> is satisfactory to Lender and that the interest payable on the sums secured by this Mortgage shall be at such rate as Lender <br /> shali request. If Lender has waived the option to accelerate provided in this paragraph 17, and if Borrower's successor in <br /> interat has exec�ted a written aasumption agreement accepted in writing by Lender. Lender shali release Boaower from all <br /> obligations under this Mortgage and the Note. <br /> If Lender exercises such option to accelerate, Lendcr shall mail Borrower notice of accelerntion in accordance with <br /> paragraph 14 hereof. Such notice shall provide a period of not less than 30 days from the date the notice is mailed within <br /> which Borrower may pay the sums declared due. Tf Boaower fails ro pay such sums prior to the expiration of such period, <br /> Lender may, without further noticc or demand on Borrower, invoke any remedies permitted by paragraph 18 hereof. <br /> Norr-UN�FORM Covetswtvrs. Borrower and Lender further covenant and ugree as follows : <br /> I8. Accdention; Remedles. Fscept as provlded in para�nph 17 hereof, upon Sorrower's 6resch of any covenaot or <br /> agreement of Sorrower in this Mortgage, Includi� the covenants to pay when due any sums secured by t6fs Morfgsge, s <br /> Leader prlor to acceleratton shall ma11 notice to Borrower as provided in paraRraph 14 hereof specifying: (1) the breach; <br /> (� the acNoa requlred to curo such breach; (3) a date, �ot leas thrn 30 days from the date the notice is mailed to Borrower, �"�, <br /> by whic6 snch brcach must be curcd; and (4) that faAure to cure such breach on or beforc the dale specified ln the notice `" �'� <br /> may result in accetuation of t6e surt�s securcd by this MoAgaqe, foreclosurc by judiciW proceeding and sale of the Property. � � <br /> T6e notice shaD further inform Borrower of t6e rigbt to reinstate aftcr accderaHon and the right to assert in the foreclosurc � i <br /> p;aceeding the nop-exktence oE a dehall or any other defenve of Borrower to acceleradon snd foreclosare. If the breach <br /> b apt cu`ed on or beforc t6e date speci6ed in the notice, Lende� at Lender's optbn may declare sll of the sumg securcd by ; ,!� <br /> this Mortgaee W be Immediately due and payaWe without further demand and may forecloee by judlcial proceediag. Lender ; �`>. ; <br /> a6a116e eutttled to collect lu such proceeding s!1 e�ccpenaea of foreclosure, including, but not limked to, costs of documeatary <br /> evidence, aLastracb and Wle reports. , <br /> ; 19. Borronei'� RIL6t to Relmtate. Notwitt�standing Lender's acccleration of tha sums secured by this Mortgagc, '� <br /> j Borrower shall have the right to have any proceedings begun by Lender to enforce this Mongage discontinued at any time <br /> � <br /> i- <br /> 'i � <br />